DA Davidson Issues Pessimistic Forecast for Flowers Foods (NYSE:FLO) Stock Price

Flowers Foods (NYSE:FLO) had its target price lowered by equities research analysts at DA Davidson from $24.00 to $21.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 12.07% from the company’s current price.

Several other brokerages have also issued reports on FLO. Truist Financial cut their price objective on shares of Flowers Foods from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Monday. StockNews.com downgraded Flowers Foods from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Flowers Foods presently has an average rating of “Hold” and a consensus price target of $21.00.

Flowers Foods Price Performance

FLO opened at $18.74 on Monday. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 3.74 and a beta of 0.38. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.75. Flowers Foods has a 12-month low of $18.36 and a 12-month high of $26.12. The business’s fifty day simple moving average is $20.28 and its 200-day simple moving average is $21.84.

Flowers Foods (NYSE:FLO) last released its quarterly earnings data on Friday, February 7th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Flowers Foods had a net margin of 4.70% and a return on equity of 19.41%. During the same period last year, the firm earned $0.20 earnings per share. On average, equities research analysts anticipate that Flowers Foods will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flowers Foods

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Flowers Foods in the fourth quarter worth $12,058,000. Vanguard Group Inc. boosted its position in shares of Flowers Foods by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 22,737,981 shares of the company’s stock worth $469,767,000 after purchasing an additional 518,745 shares in the last quarter. Geode Capital Management LLC grew its stake in Flowers Foods by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,159,076 shares of the company’s stock worth $95,971,000 after buying an additional 259,216 shares during the last quarter. Ceredex Value Advisors LLC grew its stake in Flowers Foods by 85.4% during the 3rd quarter. Ceredex Value Advisors LLC now owns 540,104 shares of the company’s stock worth $12,460,000 after buying an additional 248,800 shares during the last quarter. Finally, Edgestream Partners L.P. increased its position in Flowers Foods by 423.1% during the 3rd quarter. Edgestream Partners L.P. now owns 306,848 shares of the company’s stock valued at $7,079,000 after buying an additional 248,185 shares in the last quarter. Hedge funds and other institutional investors own 75.45% of the company’s stock.

About Flowers Foods

Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack items, bagels, English muffins, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs.